v3.26.3
Residential Whole Loans - Allowance for Credit Losses (Details) - Residential whole loans - USD ($)
$ in Thousands
3 Months Ended
Sep. 30, 2026
Jun. 30, 2026
Mar. 31, 2026
Sep. 30, 2025
Jun. 30, 2025
Mar. 31, 2025
Dec. 31, 2025
Financing Receivable, Allowance for Credit Loss [Roll Forward]              
Beginning balance $ 9,393 $ 9,437 $ 9,705 $ 9,949 $ 10,194 $ 10,665  
Current provision/(reversal) 45 (62) (242) 276 791 145  
Write-offs (1,485) 18 (26) (142) (1,036) (616)  
Ending balance 7,953 9,393 9,437 10,083 9,949 10,194  
Non-QM loans              
Financing Receivable, Allowance for Credit Loss [Line Items]              
Loans 5,761,774           $ 5,346,693
Financing Receivable, Allowance for Credit Loss [Roll Forward]              
Beginning balance 1,292 1,408 1,725 2,015 1,928 2,125  
Current provision/(reversal) 126 (116) (317) 205 87 (197)  
Write-offs 0 0 0 (38) 0 0  
Ending balance 1,418 1,292 1,408 2,182 2,015 1,928  
Business purpose loans              
Financing Receivable, Allowance for Credit Loss [Line Items]              
Loans 1,999,999           2,443,328
Business purpose loans | Single-family rental loans              
Financing Receivable, Allowance for Credit Loss [Line Items]              
Loans 1,058,094           1,235,346
Financing Receivable, Allowance for Credit Loss [Roll Forward]              
Beginning balance 920 762 918 937 980 366  
Current provision/(reversal) (6) 158 (156) (78) (43) 614  
Write-offs (42) 0 0 (30) 0 0  
Ending balance 872 920 762 829 937 980  
Business purpose loans | Single-family transitional loans              
Financing Receivable, Allowance for Credit Loss [Line Items]              
Loans 678,457           718,345
Financing Receivable, Allowance for Credit Loss [Roll Forward]              
Beginning balance 1,542 1,156 1,042 512 865 1,389  
Current provision/(reversal) 279 386 114 548 669 (88)  
Write-offs (1,416) 0 0 0 (1,022) (436)  
Ending balance 405 1,542 1,156 1,060 512 865  
Business purpose loans | Single-family transitional loans | Collateral Dependent Methodology              
Financing Receivable, Allowance for Credit Loss [Line Items]              
Loans 3,800     3,800      
Seasoned RPL/NPL loans              
Financing Receivable, Allowance for Credit Loss [Line Items]              
Loans 885,318           $ 979,016
Financing Receivable, Allowance for Credit Loss [Roll Forward]              
Beginning balance 5,639 6,111 6,020 6,485 6,421 6,785  
Current provision/(reversal) (354) (490) 117 (399) 78 (184)  
Write-offs (27) 18 (26) (74) (14) (180)  
Ending balance 5,258 $ 5,639 $ 6,111 6,012 $ 6,485 $ 6,421  
Seasoned RPL/NPL loans | Collateral Dependent Methodology              
Financing Receivable, Allowance for Credit Loss [Line Items]              
Loans $ 23,200     $ 32,100